Active B12 Test Market Research Report - Forecast to 2030

Active B12 test market information: by diagnosis (ELISA assay, enzyme immunoassay, others), by indication (folate deficiency anemia, pernicious anemia, macrocytic anemia, others), by end users (Hospitals, medical laboratories, clinical research organization, others) - Forecast to 2030

ID: MRFR/LS/2855-HCR | 206 Pages | Published By Kinjoll Dey on March 2023         

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Active B12 Test Market Overview

The active B12 test market is relied upon to develop at a CAGR of 7.10% during the figure time frame and is estimated to arrive at Significant Value by 2030.Vitamin B12 moreover called cobalamin, is a water-dissolvable supplement that accepts an imperative part in the working of the frontal cortex and tactile framework and the game plan of red platelets. It impacts DNA mix, amino destructive assimilation, and unsaturated fat. B12 is the greatest and essentially frustrated supplement and can be conveyed financially through the bacterial maturing association. Supplement B12 can cause outrageous damage to the frontal cortex and tangible framework. Results of supplement B12 fuse depletion, lethargy, bitterness, defenseless memory, shortness of breath, cerebral agonies, and light complexion. 

The increasing prevalence of vitamin B12 deficiency disease such as pernicious anemia across the globe is the major contributor to the growth of active B12 test market. The high cost of diagnostic devices for deficiency disease is a restrain for the growth of the Active B12 Test Market. 

COVID-19 Analysis

Several nations were required to implement stringent lockdown regulations in response to the COVID-19 pandemic outbreak, resulting in disruptions in the import and export of Active B12 Tests. 

Global economic activity will be affected by COVID-19 in three distinct ways: via direct impacts on produce and demand, disruptions in supply chains and the market, and financial impact on firms and the financial market. Post-COVID-19 crisis, according to our analysts monitoring the scene across the globe, producers will have remunerative prospects.

Market Dynamics

Vitamin B12 deficiency is driving the active B12 test market, which is primarily driven by demand due to its increasing prevalence. In the coming years, however, there is a possibility that less awareness will limit the growth of the active B12 test market. 

An in-depth and specialized study of the healthcare industry, the "Active B12 Test Market Analysis to 2028" focuses on the global market trend analysis. A detailed market segmentation diagnosis, indication, end-user, and region is provided in the report, which will provide a market overview of the active B12 test market. During the forecast period, the active B12 test market is predicted to experience high growth. In this study, the authors offer key statistics on the market status of the leading players in the B12 test market and provide key trends and opportunities in the active B12 test market.

Technology Analysis

The American area addressed the greatest piece of the overall Active B12 market development due to the extending regularity of neurological diseases and inadequacy ailments, the intermingling of critical market players in the diagnostics market, mechanical progress, and technological development. The Middle East and Africa are depended upon to show reliable improvement in active B12 test market on account of low development invasion, detachment of imaginative clinical consideration advances, and absence of technology.

Market Segmentation

There are three types of active B12 tests available, including ELISA tests, enzyme immunoassays, and others. Anemia characterized by folate deficiency, anemia characterized by pernicious anemia, anemia characterized by macrocytic anemia, and others makes up the majority of the market. Market segmentation is based on end-users including hospitals, medical laboratories, clinical research organizations, and other users. 

The active B12 test market audience includes Medical device manufacturers, Medical device suppliers, Medical research laboratories, Research and Development (R&D) Companies, Market Research and Consulting Service Providers, and Potential Investors. 

Types and applications of B12 Tests are segmented in the active B12 market. In terms of volume and value, the growth among segments provides accurate sales calculations and forecasts for the period 2016-2026. This information helps you to identify niche markets where your product or service is most likely to sell. 

Based on Type:

  • ELISA Assay

  • Enzyme Immunoassay

  • Others

Based on application

  • Folate Deficiency Anemia

  • Pernicious Anemia

  • Macrocytic Anemia

  • Others

 Following are a few of the major active B12 tests market players:

  • Axis-Shield Diagnostics

  • Abbott

  • Siemens

  • DiaSorin

  • Roche

  • LifeSpan BioSciences

  • Demeditec Diagnostics¬†

Segments of the market are analyzed based on:

  • North America (the United States, Canada, and Mexico)

  • Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)

  • Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)

  • South America (Brazil, Argentina, Colombia, and Rest of South America)

  • Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of the Middle East & Africa)

Regional Analysis

A growing prevalence of neurological disorders and deficiency diseases, a concentration of market players in the diagnostics segment, and technological advancement contributed to the largest share of the market to be accounted for by the American region. Among the elderly and those living in wealthier countries, vitamin B-12 deficiency is not uncommon, according to the American Society for Nutrition.  Vitamin deficiency is a common problem in America, according to the Agricultural Research Service of the United States Department of Agriculture. A recent study by Tufts University found that nearly forty percent of this region's population lacks sufficient B12.  

With a noticeable share of the active B12 test market, Europe is the second biggest market. A growing awareness of vitamin B12 tests, available funds to carry out research and development, and the strength of the healthcare system drive the growth of the active B12 test market.

An increasing number of clinic laboratories, the growth of the geriatric population with neurological disorders, and the demand for cost-effective diagnostic and treatment services are key factors driving growth in the Asia Pacific. Since China and India have a large pool of diabetic patients, chronic diseases and neurological disorders might benefit active B12 test market. For example, diabetes, psoriasis, and rheumatoid arthritis are common ailments in those countries. In addition, vegetarian consumption raises the risk of deficiency of vitamin B12 in the area. 

A low rate of technology penetration and the lack of innovative healthcare technologies will prevent Middle East & Africa from exhibiting steady growth in active B12 test market.

Competitive Landscape

The report discusses both organic and inorganic growth strategies in the active B12 test market. Various companies are investing in organic growth strategies such as new product launches, product approvals, and other forms of growth, such as patents, conferences, and events. Acquisitions and partnerships and collaborations were among the organic growth strategies witnessed in the market. Through these activities, business growth and the expansion of the customer base of players in the market have been achieved. With the rising demand for active B12 tests in the global market, market players in the active B12 test market are likely to experience lucrative growth prospects in the future. In the following table, you can find the list of active companies participating in the active B12 test market. 

The active B12 test market is dominated by companies such as Axis-Shield Diagnostics Ltd. (U.S), Abbott (U.S), Siemens Healthcare Private Limited (U.S), DiaSorin S.p.A. (Italy), F. Hoffmann-La Roche Ltd (Switzerland), LifeSpan BioSciences, Inc. (U.S), Demeditec Diagnostics GmbH (Germany).

Recent Developments

A new four-in-one test that can detect SARS-CoV-2, influenza A, influenza B, and respiratory syncytial virus in one patient sample was introduced by Cepheid in June 2020. 

Danaher Corp launched its COVID-19 blood test for detecting COVID-19 in June 2020 following its approval by the United States Food and Drug Administration for emergency use.

Report Overview

Market information from 2016 to 2026 is remembered for the Global Active B12 Test Market Report. Notwithstanding market information, the report incorporates factors that impact the market. The report is separated into top worldwide makers referencing deals, income, and costs as fitting. Moreover, the report investigates how the main players contrast with each other. Besides, market information by locale and application are given. Estimates are accommodated for the period 2021 to 2026. Nitty-gritty data in regards to deals directly is likewise remembered for the report. 

The Market Research Future report on the active B12 test market contains extensive primary research as well as a detailed analysis of qualitative and quantitative aspects by a range of industry experts, key opinion leaders to gain a deeper understanding of the market and industry performance. Aside from illustrating the latest scenario, the economic slowdown, and the impact of COVID-19 on the overall industry, this report offers additional insights. Detailed information on the value and volume of the market is provided as well as technological advancement, macroeconomic conditions, and the governing factors that affect the market. Detailed information and strategies of the leading players in the market are included in the report. Besides describing the market segments and regions in detail, the report also summarizes the overall market.

Report Scope:

Report Attribute/Metric Details
  Market Size   Significant Value
  CAGR   7.10%
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Diagnosis, Indication, End User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Axis-Shield Diagnostics Ltd. (U.S), Abbott (U.S), Siemens Healthcare Private Limited (U.S), DiaSorin S.p.A. (Italy), F. Hoffmann-La Roche Ltd (Switzerland), LifeSpan BioSciences, Inc. (U.S), Demeditec Diagnostics GmbH (Germany)
  Key Market Opportunities   High cost of diagnostic devices for deficiency disease
  Key Market Drivers   Increasing prevalence of vitamin B12 deficiency disease such as pernicious anemia

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Frequently Asked Questions (FAQ) :

The Active B12 Test Market CAGR has 7.10% During the Forecast Period 2022-2030.

The Active B12 Test Market Would Primarily Benefit from Pernicious Anemia.

The End Users Are A Clinical Research Organization, Medical Laboratories, Hospitals, And Other Users.